Colfax Corp (NYSE:CFX) had its price target lifted by research analysts at Barclays PLC from $38.00 to $39.00 in a research note issued on Wednesday, April 19th. The firm currently has an “equal weight” rating on the industrial products company’s stock. Barclays PLC’s target price indicates a potential downside of 3.08% from the company’s previous close.
Other research analysts have also issued research reports about the company. Zacks Investment Research upgraded Colfax Corp from a “hold” rating to a “buy” rating and set a $44.00 target price on the stock in a report on Monday, February 20th. Stifel Nicolaus raised their target price on Colfax Corp from $42.00 to $45.00 and gave the company a “buy” rating in a report on Friday, February 3rd. Seaport Global Securities upgraded Colfax Corp from an “accumulate” rating to a “buy” rating in a report on Wednesday, February 1st. Argus upgraded Colfax Corp from a “hold” rating to a “buy” rating in a report on Tuesday, January 31st. Finally, Royal Bank of Canada reiterated a “buy” rating and set a $44.00 price target on shares of Colfax Corp in a report on Monday, April 17th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Colfax Corp presently has an average rating of “Buy” and an average price target of $42.29.
Shares of Colfax Corp (NYSE:CFX) traded up 1.46% during trading on Wednesday, hitting $40.24. 1,842,081 shares of the stock traded hands. The firm has a market cap of $4.95 billion, a PE ratio of 34.39 and a beta of 1.52. Colfax Corp has a 52-week low of $24.62 and a 52-week high of $41.99. The company’s 50 day moving average is $39.56 and its 200 day moving average is $38.24.
Colfax Corp (NYSE:CFX) last posted its earnings results on Friday, May 5th. The industrial products company reported $0.35 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.30 by $0.05. Colfax Corp had a return on equity of 6.02% and a net margin of 3.51%. The company had revenue of $845 million for the quarter, compared to analyst estimates of $820.23 million. During the same quarter last year, the company earned $0.30 earnings per share. The company’s revenue for the quarter was down 3.6% on a year-over-year basis. On average, equities research analysts predict that Colfax Corp will post $1.71 EPS for the current year.
Institutional investors have recently made changes to their positions in the stock. Goldman Sachs Group Inc. boosted its position in Colfax Corp by 10.6% in the first quarter. Goldman Sachs Group Inc. now owns 747,503 shares of the industrial products company’s stock valued at $29,347,000 after buying an additional 71,410 shares during the last quarter. YG Partners LLC boosted its position in Colfax Corp by 60.8% in the first quarter. YG Partners LLC now owns 88,875 shares of the industrial products company’s stock valued at $3,489,000 after buying an additional 33,593 shares during the last quarter. Point72 Asset Management L.P. boosted its position in Colfax Corp by 1,233.6% in the first quarter. Point72 Asset Management L.P. now owns 904,200 shares of the industrial products company’s stock valued at $35,499,000 after buying an additional 836,400 shares during the last quarter. Bragg Financial Advisors Inc acquired a new position in Colfax Corp during the first quarter valued at approximately $371,000. Finally, Credit Suisse AG boosted its position in Colfax Corp by 0.6% in the first quarter. Credit Suisse AG now owns 59,641 shares of the industrial products company’s stock valued at $2,342,000 after buying an additional 358 shares during the last quarter. Institutional investors own 79.74% of the company’s stock.
Colfax Corp Company Profile
Colfax Corporation is an industrial manufacturing and engineering company. The Company provides gas and fluid handling and fabrication technology products and services to customers around the world. The Company’s segments include Gas and Fluid Handling, and Fabrication Technology. The Gas and Fluid Handling segment supplies a range of gas and fluid handling products, including heavy-duty centrifugal and axial fans, rotary heat exchangers, gas compressors, pumps and certain related products, as well as aftermarket and lubrication-related services, which serves customers in the power generation, oil, gas and petrochemical, mining, marine (including defense) and general industrial and other end markets.
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